Employer is changing Retirement Plan Administrator/Company. Things we as employees should ask/know? Could this affect us?
Hello, recently my employer notified us that our current retirement plan administrator that is partnered with our HCM will be transitioning to a new retirement plan company/admin.
We will have an educational meeting and have been notified from March-May there will be a blackout period.
What I’m wondering is are there any finite details we should ask for or be aware of? I’m weary because a few years back our company match was slashed in half, health plans have been chosen that are affordable to our employer but not generally ideal for us, etc… so I’m just curious if this transition is somehow more beneficial for them but could affect us? Or am I being silly? Would there be higher fees or anything like that?
Don’t know much about this but want to be prepared. Maybe it’s common and no big deal.
Thanks!